Lithgow-made S.M.L.E. No. 1 Mk III* (in Australia)

The nosecap has been relieved around the barrel protrusion. That devalues the rifle enormously, total deal breaker for me and it’s a very bad sign, no telling what someone has done to the forend internals. The description is nonsense, I’d walk away and don’t look back.

May have been someone’s range rifle where a rubber grommet was fitted between the muzzle & nosecap.  Has the >S< Sale Mark.

I wouldn’t think you’d fit a grommet in there. It’s dodgey as 

The nose cap is relieved, it’s buggered 

The very first image shows a swivel sling attachment fitted where the front trigger guard screw would normally be. That was the first clue this rifle was set up as a full bore target rifle. Relieving the front nose cap and packing the barrel with cork, rubber etc was a common practice for Aussie full bore shooters. This was normally accompanied by some other form of bedding alteration inside the forestock. Quite often alterations were made to the internals of both the upper and lower forestock to enable the fitting of whatever material they were using to bed the barrel. Some of these rifles were very accurate, however the cork and other materials they used for bedding back in the day deteriorate with age. Bedding needs to be redone when that occurs. These bedding alterations also exclude these rifles from being shot in most service rifle type matches. It looks like a nice rifle, but not something I'd buy due to the modifications done in the past. As previously pointed out, the alterations from standard greatly diminish the value of the rifle.